Arbeitspapier
Optimal consumption choice with intolerance for declining standard of living
Duesenberry introduced the notion of a ratchet investor who does not tolerate any decline in her consumption rate. We connect the demand behavior of such an agent to the behavior of standard time-additive agents. A ratchet investor demands the running maximum of the optimal plan a conventional time-additive investor with lower initial wealth would choose.
- Language
-
Englisch
- Bibliographic citation
-
Series: Working Papers ; No. 394
- Classification
-
Wirtschaft
Micro-Based Behavioral Economics: Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making‡
- Subject
-
Intertemporal consumption choice
Habit formation
Non-time separable utility
- Event
-
Geistige Schöpfung
- (who)
-
Riedel, Frank
- Event
-
Veröffentlichung
- (who)
-
Bielefeld University, Institute of Mathematical Economics (IMW)
- (where)
-
Bielefeld
- (when)
-
2007
- Handle
- URN
-
urn:nbn:de:hbz:361-13664
- Last update
-
10.03.2025, 11:43 AM CET
Data provider
This object is provided by:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Arbeitspapier
Associated
- Riedel, Frank
- Bielefeld University, Institute of Mathematical Economics (IMW)
Time of origin
- 2007
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Optimal consumption choice for ratchet investors
Optimal consumption choice with intolerance for declining standard of living
INTOLERANCE
Intertemporal choice and consumption mobility
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[Idée - Intolerance]
CXLVI. Intolérance
CXC. Intolérance
Intolerance laktózy
The broken elevator: Declining absolute mobility of living standards in germany
The broken elevator : Declining absolute mobility of living standards in germany
Fish oil consumption prevents glucose intolerance and hypercorticosteronemy in footshock-stressed rats